China · Markets
China’s central bank makes biggest gold addition in three years
A 23-month buying streak accompanies China’s effort to reduce its dependence on US-controlled, dollar-based financial systems.
By Sera Wyclen · 2 min read

China’s central bank has increased its gold holdings by the most in three years, continuing a sustained buying programme as the country seeks to become less dependent on US-controlled financial systems built around the dollar.
The central bank has purchased gold for 23 consecutive months. The latest addition stands out for its size relative to purchases over the past three years, although the supplied information does not specify the amount acquired or the value of the purchases.
The buying streak places the latest increase within a longer pattern of reserve purchases rather than an isolated move. Its significance lies both in the scale of the latest addition and in the continuity of buying, against the backdrop of China’s effort to reduce its reliance on dollar-based finance.
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Those details do not, however, establish how far that effort has progressed. Without figures for total gold holdings, dollar assets or the composition of reserves, the purchases alone cannot show the extent of any change in China’s financial exposure. The supplied material also gives no indication of the central bank’s next purchase or its future buying plans.
Editor’s note: The supplied material contains only a headline and brief summary. It does not provide purchase amounts, reserve totals or competing views.